Hello, Max, So, to be clear, you didn't get that job in wealth management and is now back to trading your own account?
Nope, going to be writing the level 3 of the CFA soon, see if that moves the needle, managed to get in front of 5 different people with a billion plus under management but they all told me the same thing, come back and talk to me when you have 10 million of your own under management. The problem is it is a logistical nightmare trying to do it on your own and build 10 million without their infrastructure, unless you know a few rich people and you only need to manage like 10 accounts as opposed to 200. I offered every place to work on zero salary because I can just live off trading profits while i build a book, and still no dice. The thing is if I was able to get to 10 million on my own, then what do i need them for at that point, why would I just give them half my fees? Not exactly sure how anyone starts in that business when that is every firm's bottom line.
So, in summary, getting a professional job in the business is generally difficult? At least without the proper connections or credentials? Personally, I regret not going down the professional path many years back by now. I even started my degree and quit it after a year as one of the best in class. By now, I'm probably too old. Part of the reason why I didn't go down that path was because trading per se is pretty much non-existant in Norway and being a PM didn't interest me at the time.
Yep pretty tough, unless you know a bunch of rich people, the people I talked to had been there for 25 years and like started as a bank teller or a financial advisor and worked their way in from the inside, but im too old for that too, not going to go start an entirely different career at this point. LOL wish I had started 15 years ago too
bought some NXT at 44, held up well through all the selling last few days should see it break out here, going to hold this one till 50, or stop if it starts going back down below 40. Other than that no other trades for me today.
Man did SGBX ever punk a lot of people cooked all the shorts then buried the longs gave a chance to reenter an hour before the open at 1.00 and VWAP again but I passed on it. Congrats to anyone who was buying into that sell off in the QQQ and tech last couple days, making bank today.
Pretty clear that Canadian oil traders are terrified of Trump tariffs, every single Canadian oil stock i bought either flat or down while all the ameriucan ones are up big with an 8 dollar per barrel move in crude the last few days, going to have to lay off buying Canadian oil stocks until Trump makes it clear whether or not he intends to put tariffs on Oil. That sucks cause I am sitting on alot of Canadian Cash now and I don't really want to get long the market, and our rates on GIC's 1.25% lower than the U.S. with the USD/CAD trading right at multi year highs where you dont want to move it back into U.S. Atleast there is some good Canadian oil companies like WCP.TO paying a 7% dividend right now.
watching the 520 area on the QQQ if it rolls over in the general vicinity of the trendline will short the market.